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InsurTech news

Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.

Allianz & SiriusPoint invest in $118m round for Pie Insurance

26th March 2021

Pie Insurance, an insurtech specializing in workers' comp insurance for small businesses, has raised $118 million in a Series C funding round led by Allianz X and Acrew Capital. Also participating in the round were existing investors SiriusPoint, Greycroft, SVB Capital, Elefund, and Moxley Holdings. The investment is expected to help Pie ... Read the full article

QOMPLX launches insurance data standards library

25th March 2021

Risk analytics provider QOMPLX is setting up a data standards library to improve transparency and consistency across the re/insurance industry. The library, called ReQoncile.io, will provide a single place where data standards can be accessed and compared by players across the insurance value chain. The site will be a publicly available curated ... Read the full article

Major re/insurance players commit $2mn to Oasis Loss Modelling Framework

23rd March 2021

A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis Re and the Insurance Development Forum. The supporting international re/insurers and brokers ... Read the full article

Insurtech Artificial joins Convex on data-driven marine liability product

22nd March 2021

Insurtech firm Artificial Labs is collaborating with Convex to digitise and distribute the speciality re/insurer’s data-driven marine liability product. The partnership sees US-based marine liability brokers provided with a rate/quote/bind/issue tool designed to improve client experience and give access to new, specific classes of business. The product is reported to give brokers ... Read the full article

SCOR announces new satellite-based pasture insurance tool in Brazil

22nd March 2021

Global reinsurer SCOR has announced its role in the creation of a new satellite-based pasture insurance tool available to all Brazilian livestock farmers. Pastagem Protegida – Índice was created in collaboration with Pastagem Protegida – Índice was created in collaboration with IRB, ESSOR and AgroBrasil, and is based on the Airbus ... Read the full article

Cincinnati Insurance adopts Zesty.ai’s wildfire risk analysis tool

19th March 2021

Climate risk analytics firm Zesty.ai has announced that The Cincinnati Insurance Company has integrated its predictive wildfire risk analytics solution, Z-FIRE, across the carrier's personal lines property portfolio.  With Z-FIRE, Cincinnati hopes to be able to assess wildfire risk using an AI model that's been trained on ... Read the full article

Generali partners with YAS on HK passenger microinsurance product

15th March 2021

Italian insurer Generali is partnering with YAS Digital on Hong Kong’s first passenger microinsurance solution. Scope of coverage is extensive, and includes public transportation ranging from buses, mini-buses, trams, cable cars, MTR, and cross-harbour ferriess. RYDE with YAS has been launched to service Hong Kong's high ... Read the full article

AXA Partners and Ancileo renew partnership

12th March 2021

AXA’s global Business-to-Business-to-Consumer unit AXA Partners and Ancileo have announced a renewal of their partnership to further bolster their position in the travel insurance market post-pandemic. Ancileo is a digital insurance platform provider which specialises in providing insurance technology, API & insurance software solutions to insurers. The technology developed by Ancileo allows ... Read the full article

Cowbell Cyber raises $20mn in Series A funding round

11th March 2021

AI-powered cyber insurer Cowbell has closed a $20 Million Series A funding round as it looks to scale its offering for continuous underwriting and closed-loop risk management. Cowbell Cyber’s closed-loop approach to cyber risk bundles cybersecurity awareness training, continuous risk assessment, and pre and post-breach risk improvement services. Brewer Lane Ventures led ... Read the full article

Abacai Group acquires Dayinsure

10th March 2021

Abacai Group, a new insurtech firm created by specialist private capital provider Sun Capital Partners and former Aviva CEO Mark Wilson, has acquired Dayinsure to bolster its existing insurance businesses. Founded in 2005, Dayinsure provides temporary motor insurance cover in the UK for car, van, motorhome and business drivers and has ... Read the full article

Aon partners with Nayms & Realm on crypto offering

9th March 2021

Re/insurance broker Aon has partnered with crypocurrency insurtech firm Nayms and Bermudian specialist insurer Realm to launch a new blockchain-enabled crypto pilot. As part of the collaboration, Aon via Nayms will conduct a first pilot with Teller Finance, a decentralized lending protocol, to highlight the ability to scale cover by matching ... Read the full article

WTW partners with CDL on Radar Live programme

8th March 2021

Re/insurance broker Willis Towers Watson (WTW) has announced that CDL, a specialist technology provider, will be joining WTW’s Radar Live Collaboration programme. Radar Live is an insurance rating and rules programme that builds on WTW’s analytical software Emblem, Classifier, Radar Base and Radar Optimiser. The programme has been designed to help equip ... Read the full article

Cytora adds Thomas Huerlimann to board of advisors

4th March 2021

UK insurtech Cytora has announced the appointment of Thomas Huerlimann to its board of advisors as the company looks to bolster its growth plans. Huerlimann brings 30 years of experience in banking, reinsurance and insurance. He joins a team of existing advisors that includes AXA XL’s former Chief Executive, Client and Country ... Read the full article

Hippo to go public following Reinvent merger

4th March 2021

California-headquartered, homeowners focused-insurtech Hippo is set to go public following a merger with Reinvent Technology Partners, a special purpose acquisition company. The transaction is expected to close in mid-2021 and will see the new company have approximately $1.2 billion in cash at closing, including up to approximately $230 million of cash ... Read the full article

Arbol adds Hong Guo as EVP, Chief Insurance Officer

3rd March 2021

Parametric insurtech platform Arbol has added Hong Guo as executive vice president and Chief Insurance Officer. He is set to lead all insurance related strategy and operations for the company and brings nearly three decades of global re/insurance experience to the company. Guo most recently served as a managing director at the ... Read the full article

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